Japan faces a tough inflation-growth trade-off – and it’s not alone
Global bond markets are throwing a tantrum.
On August 17, the yield on 30-year US Treasury bonds hit 5.3 per cent, its highest level since 2007 and up from 4.8 per cent as recently as June 29.
The average yield on long-term debt across the Group of 7 advanced economies is the highest since 2008.
Several factors are at play.
One of them is the surge in longer-dated debt issued by leading technology companies as they ramp up capital spending on artificial intelligence (AI), especially data...
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